Lam Research (NASDAQ:LRCX) saw its shares rise more than 4% intra-day today following better-than-expected first-quarter earnings and revenue. The semiconductor equipment manufacturer also provided a positive outlook for the upcoming quarter, further boosting investor confidence.
For the quarter, Lam Research reported adjusted earnings per share of $0.86, beating Street expectations of $0.81. Revenue totaled $4.17 billion, surpassing the consensus forecast of $4.05 billion, marking a 7.6% year-over-year increase.
Looking ahead, the company’s guidance for the second quarter exceeded projections. Lam Research expects revenue between $4 billion and $4.6 billion, with the midpoint of $4.3 billion above the $4.22 billion Wall Street consensus. The company also anticipates adjusted earnings per share to range from $0.77 to $0.97, compared to the consensus estimate of $0.85.